Emerald Advisers LLC Reduces Stock Position in Montrose Environmental Group, Inc. (NYSE:MEG)

Emerald Advisers LLC cut its stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 97.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,371 shares of the company’s stock after selling 513,181 shares during the period. Emerald Advisers LLC’s holdings in Montrose Environmental Group were worth $229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MEG. KBC Group NV increased its position in Montrose Environmental Group by 126.5% during the fourth quarter. KBC Group NV now owns 2,888 shares of the company’s stock valued at $54,000 after acquiring an additional 1,613 shares during the last quarter. Avanza Fonder AB bought a new stake in shares of Montrose Environmental Group during the 4th quarter valued at about $105,000. Point72 DIFC Ltd bought a new stake in shares of Montrose Environmental Group during the 3rd quarter valued at about $111,000. PNC Financial Services Group Inc. increased its position in shares of Montrose Environmental Group by 42.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company’s stock valued at $118,000 after purchasing an additional 1,898 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Montrose Environmental Group in the 4th quarter worth approximately $130,000. 87.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

MEG has been the subject of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $39.00 target price on shares of Montrose Environmental Group in a research report on Tuesday, March 4th. Evercore ISI dropped their price target on shares of Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Finally, Stifel Nicolaus reduced their price objective on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Montrose Environmental Group presently has an average rating of “Moderate Buy” and an average target price of $33.60.

Montrose Environmental Group Trading Down 1.9 %

Montrose Environmental Group stock opened at $14.59 on Monday. Montrose Environmental Group, Inc. has a 12-month low of $14.28 and a 12-month high of $49.97. The firm has a market capitalization of $501.02 million, a price-to-earnings ratio of -9.79 and a beta of 1.72. The firm has a 50 day moving average of $19.46 and a 200 day moving average of $21.32. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.60.

Montrose Environmental Group Profile

Montrose Environmental Group, Inc operates as an environmental services company in the United States, Canada, and internationally. The company operates in three segments: Assessment, Permitting and Response; Measurement and Analysis; and Remediation and Reuse. The Assessment, Permitting and Response segment provides scientific advisory and consulting services to support environmental assessments; environmental emergency response and recovery; toxicology consulting and environmental audits and permits for current operations; facility upgrades; new projects; decommissioning projects; and development projects.